Hot Backup

Hello to all the Doers of Postgres!!!

Last time I went through forums, people spoke highly about 7.3 and its capability to do hot backups. My problem is if
thedatabase goes down and I lose my main data store, then I will lose all transactions back to the time I did the
pg_dump.

Other databases (i e Oracle) solves this by retaining their archive logs in some physically separate storage. So, when
youlose your data, you can restore the data from back-up, and then apply your archive log, and avoid losing any
committedtransactions.  

Postgresql has been lacking this all along. I've installed postgres 7.3b2 and still don't see any archive's flushed to
anyother place. Please let me know how is hot backup procedure implemented in current 7.3 beta(2) release. 


Thanks.